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Corporate Governance, Value Creation and Growth

The Bridge between Finance and Enterprise

This publication examines the role of corporate governance arrangements in providing the right incentives to contribute to the value creation process within the private enterprises and the implications of the differences in ownership structures on corporate governance practices and frameworks. It also addresses these global changes from emerging markets perspective and the distinguishing features of these economies that shape their capital markets, corporate structures and corporate governance landscape.

This publication is an important reminder that all those corporate governance rules, regulations and practices that we discuss are not a goal in themselves. They are supposed to be means to a greater end. Be it minority rights, mandatory bids, or independent directors, the rules and regulations that we put in place should serve a purpose. And it is against this purpose and these objectives that the quality of any corporate governance system should be evaluated. So, we need to find a benchmark against which we can assess new regulations and evaluate existing ones.

Long-Term or Short-Term Shareholdership: Does it Really Count?

This chapter aims at discussing the importance of how to organise corporate governance in the current economic context where there is a pressing need to restore trust in the integrity of public companies and their corporate governance arrangements. The chapter develops three assumptions on long-term and short-term shareholdership and seeks to test them from a corporate governance perspective. To conclude, the chapter highlights the benefits of flexibility of corporate governance codes, how companies comply with the codes and the importance of explanations in a comply-or-explain method.